Cross Ocean Partners and Fuller Realty have acquired Eldridge Place, a three-building office campus totaling 828,784 square feet in Houston’s Energy Corridor. The campus most recently changed hands in 2019, when Granite Properties purchased the asset from TIER REIT for $78.4 million, according to prior reporting cited in the article.
The campus is composed of One Eldridge Place, Two Eldridge Place and Three Eldridge Place. One Eldridge Place spans 245,315 square feet, while Two Eldridge Place totals 275,283 square feet. Three Eldridge Place is the largest of the trio, with 308,186 square feet. One and Two Eldridge Place were originally developed in 1986, and Three Eldridge Place was added to the campus in 2008, bringing a more modern building to the complex.
Eldridge Place is located at 737, 757 and 777 N. Eldridge Parkway in the Energy Corridor. At the time of the latest sale, the three buildings were reported to be 94 percent leased on a combined basis, indicating a largely stabilized occupancy profile across the campus. The property is anchored by Fluor Corp., which occupies roughly 413,000 square feet. Fluor’s footprint includes the entire Three Eldridge Place building, underscoring the tenant’s significant presence at the campus.
Since the 2019 transaction, ownership has invested more than $20 million in capital improvements throughout Eldridge Place. These upgrades have included renovated lobbies and common areas, modernization of the elevators and improvements to building systems. The program has also expanded and enhanced shared amenities, seeking to align the campus with current tenant expectations for workplace environments.
Updated common-area offerings now feature a resort-style fitness center, pickleball courts, a full-service deli and a conference facility. These additions are designed to support tenant engagement and on-site convenience, complementing the campus’s large contiguous blocks of office space and its concentration of corporate users in the Energy Corridor location.
The acquisition of Eldridge Place by Cross Ocean Partners and Fuller Realty adds a substantially leased, recently improved office campus to their portfolios. With a strong anchor tenant, diversified building sizes and a significant capital investment program already completed, the property positions the new ownership to operate a modernized office environment within one of Houston’s established employment corridors.
